Multiple loan commitments can be bundled and combined in a loan through debt rescheduling. This allows you to achieve better interest rates. If you only want to repost a single loan, there may also be savings potential for you if the new contract has better interest rates. In any case, it is worthwhile to compare the current interest rates of the providers again and again. You should always repost a credit line and other loans with very high interest rates. Even with the rescheduling in a normal installment loan, the credit for you significantly cheaper. Also, the recovery of overpaid processing fees may be worthwhile. In many cases, these were up to three percent too high.
Accurate study of the loan agreement required
- A rescheduling makes sense only at low interest rates
- Especially in the case of credit lines, you can save by rescheduling
- 3 processing fee is no longer allowed since May 2014
Reschedule our advice installment loan:
What matters is the timing experienced. It is important, above all, to make debt rescheduling only in periods of low interest rates. In addition, no high fees should be incurred by a prepayment penalty for you. Also, be careful not to take out a residual debt insurance in addition to your new loan without first checking it out. We have created a guide for you on this subject, where you can read all about this insurance. Read more here: installment loan with residual debt insurance.
However, this rescheduling should necessarily take place in times of low interest rates. Also, the recovery of unduly paid processing fees since May 2014 has a legal basis and can bring you back some fees. If a letter from the bank is insufficient, you should call in the bank’s ombudsman or a solicitor.